Warner Music Group on Tuesday announced it had agreed to pay $4.2 million in order to settle charges that it had undercompensated interns working for the media giant.  The suit was filed by a group of hundreds of former WMG interns that were paind nothing or less than minimum wage when they worked for the company's New York office.  In a statement, the firm expressed gratitude that a settlement could be reached.   "We continue to stand by our internship program as an invaluable educational experience for students looking to obtain hands-on, real-world training," read the statement.  The company did reserve the right to terminate the settlement, according to court records, should the total number of claimants rise above 1,135.  Lawyers for the plaintiffs are expected to seek 18.6 percent of the settlement for their fees, for a total of $787,500.